Silkbank Furthers E-Commerce Drive with Introduction of VCAS Powered Credit Cards

Silkbank Ltd – one of the leading and fastest-growing consumer banks in the country with 123 branches in 39 cities – is offering Visa credit cards with premier benefits, multiple layers of security, reliability, and global acceptance. With the growing focus towards digitalization in the ‘post-Covid’ economy, it is imperative for banks to provide ease and facilitation to their customers to perform online transactions.

Keeping up with this spirit and the commitment in providing world-leading services, Silkbank has partnered with Visa to utilize the global digital payments leader’s ‘Visa Consumer Authentication Service’ (VCAS), which provides the bank Risk-Based Authentication (RBA) to reduce fraud and false declines for improved online authentication service.

With this partnership, Silkbank is soon to become the first bank in the country to offer this 3DS 2.0 compliant feature, which not only delivers a better online experience for cardholders but leverages the power of data to give cardholders peace of mind when shopping online.

Commenting on Silkbank’s digital-drive, Shahram Raza Bakhtiari – Director Retail Banking, said, “Our objective is to be ready for the new era in banking where customers will rely more on digital solutions and for this purpose our strategic partnership with Visa will go a long way. This initiative is a reflection of our resolve in providing our customers unmatched convenience without compromising on the security.”

Kamil Khan, Visa’s Country Manager Pakistan & Afghanistan, said: “While the current circumstances have reimagined consumers’ shopping patterns and prompted merchants to go online quickly, consumer expectations remained the same – they want easy payments that are also secure.”

“We are delighted that our partners have chosen Visa Consumer Authentication Service, which enables Silkbank to offer smarter authentication decisions and deliver the secure and seamless payment experiences consumers seek. This is an important step forward in both Visa and Silkbank’s efforts to drive digital commerce in Pakistan,” he added.

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